Credits are initially expected to trade at around $10 per ton of carbon dioxide equivalent, a rate that’s too low to provide a catalyst for action and far lower than in similar markets globally, said the report by Climate Risk Horizons, a Bengaluru-based think tank. The cost of purchasing credits to cover emission shortfalls would on average equate to 0.6% of annual profit for aluminum smelters, 1% to 2% for cement producers and 7% for steel companies.